Spotify Hikes Prices Again; Premium Plans Now Cost More Than Apple Music
June 4, 2024Spotify announces second price increase in a year for Premium plans in the U.S., with Individual plan now $11.99 and Family plan $19.99.
Overall price increase is 20 percent, with subscribers being notified via email.
Reason for the price hike is cited as the need to invest in product features.
Spotify becomes more expensive than competitors like Apple Music, which offers lower pricing for similar plans.
Customers may consider switching to Apple Music for perks like Dolby Atmos songs and Hi-Fi quality at a lower cost.
Spotify plans to introduce a new 'supremium' plan with high-fidelity audio and audiobooks in response to competition.
Despite backlash, Spotify's stock price rose on news of the price increase, focusing on revenue growth.
Apple rumored to bring text effects to iMessage in iOS 18, with no new hardware expected at WWDC 2024.
Updates to AirPods Pro 2 firmware and various app features are anticipated.
Summary based on 24 sources
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Sources
TechCrunch • Jun 3, 2024
Spotify to increase premium pricing in the US to $11.99 per month | TechCrunchCNET • Jun 3, 2024
Spotify Increases Prices for Second Time in a YearThe Verge • Jun 3, 2024
Spotify is increasing US prices again